Adani Group, India’s second-largest cement manufacturer, has taken another step in its aggressive consolidation strategy by announcing the merger of its subsidiaries, Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL). The group has decided to implement two distinct schemes of arrangement to facilitate this merger.
Ambuja Cement, one of the Group’s prominent cement brands, is expected to benefit significantly from this move, as the merged entities are proposed to be integrated with it. Ambuja Cement expects the merger to expand its geographical reach throughout India, particularly bolstering its presence in the western and southern regions.
Penna Cement, a major player in the South Indian market, brings substantial assets to the table, including four integrated cement plants in Andhra Pradesh and Telangana. Additionally, it operates five strategically located bulk cement terminals in Kolkata, Gopalpur, Karaikal, Kochi, and Colombo, Sri Lanka.
